LOS ANGELES, April 10, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Movado Group, Inc., (“Movado" or the "Company") (NYSE:MOV) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/movado-group-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Movado’s stock price fell as much as 6.9% during intraday trading on April 11, 2025, thereby injuring investors. This market volatility was triggered by an April 11, 2025, disclosure regarding internal misconduct within the Dubai branch of its subsidiary, MGI Luxury Group Sárl. The Company revealed that a former managing director and several subordinates had engaged in a five-year scheme involving the “falsification of documents” and the use of an unauthorized “third-party warehouse” to facilitate the “premature recognition of sales.” According to management, these actions led to an overstatement of revenue and the underreporting of customer credit notes. Consequently, Movado announced that it would restate its financial records dating back to 2022 and admitted that it had “identified a material weakness in internal control over financial reporting” after discovering the circumvention of established corporate oversight.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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